First Commonwealth Financial (NYSE:FCF) Price Target Increased to $17.00 by Analysts at Piper Sandler

First Commonwealth Financial (NYSE:FCF) had its price target boosted by Piper Sandler from $14.00 to $17.00 in a report released on Thursday, Benzinga reports. The firm currently has a neutral rating on the bank’s stock.

Several other research analysts have also recently weighed in on FCF. Royal Bank of Canada restated an outperform rating and issued a $17.00 price objective on shares of First Commonwealth Financial in a research report on Tuesday, April 9th. StockNews.com upgraded shares of First Commonwealth Financial from a sell rating to a hold rating in a research report on Saturday, May 25th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, First Commonwealth Financial has an average rating of Hold and a consensus target price of $17.13.

First Commonwealth Financial Stock Up 7.6 %

FCF stock opened at $18.61 on Thursday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.10. The company’s 50 day moving average is $14.12 and its 200 day moving average is $13.79. The stock has a market cap of $1.90 billion, a price-to-earnings ratio of 11.56 and a beta of 0.85. First Commonwealth Financial has a 1-year low of $11.16 and a 1-year high of $19.01.

First Commonwealth Financial (NYSE:FCF) last posted its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. The company had revenue of $120.20 million for the quarter, compared to analysts’ expectations of $118.34 million. First Commonwealth Financial had a net margin of 23.39% and a return on equity of 12.14%. First Commonwealth Financial’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.42 earnings per share. Sell-side analysts predict that First Commonwealth Financial will post 1.38 EPS for the current fiscal year.

First Commonwealth Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Stockholders of record on Friday, August 2nd will be paid a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a dividend yield of 2.79%. The ex-dividend date is Friday, August 2nd. First Commonwealth Financial’s dividend payout ratio (DPR) is presently 32.30%.

Institutional Trading of First Commonwealth Financial

Institutional investors have recently made changes to their positions in the stock. CWM LLC boosted its stake in shares of First Commonwealth Financial by 451.1% during the second quarter. CWM LLC now owns 1,995 shares of the bank’s stock valued at $28,000 after purchasing an additional 1,633 shares during the period. International Assets Investment Management LLC purchased a new stake in First Commonwealth Financial in the fourth quarter worth $74,000. Tower Research Capital LLC TRC lifted its stake in First Commonwealth Financial by 50.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 6,666 shares of the bank’s stock worth $103,000 after acquiring an additional 2,236 shares during the period. Entropy Technologies LP purchased a new stake in First Commonwealth Financial in the first quarter worth $152,000. Finally, EMC Capital Management lifted its stake in First Commonwealth Financial by 28.6% in the first quarter. EMC Capital Management now owns 15,823 shares of the bank’s stock worth $220,000 after acquiring an additional 3,523 shares during the period. Hedge funds and other institutional investors own 72.58% of the company’s stock.

First Commonwealth Financial Company Profile

First Commonwealth Financial Corporation, a financial holding company, provides various consumer and commercial banking services in the United States. Its consumer services include personal checking accounts, interest-earning checking accounts, savings and health savings accounts, insured money market accounts, debit cards, investment certificates, fixed and variable rate certificates of deposit, mortgage loans, secured and unsecured installment loans, construction and real estate loans, safe deposit facilities, credit cards, credit lines with overdraft checking protection, IRA accounts, and automated teller machine (atm) services, as well as internet, mobile, and telephone banking services.